New York State Common Retirement Fund Decreases Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

New York State Common Retirement Fund trimmed its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,055 shares of the transportation company’s stock after selling 1,558 shares during the quarter. New York State Common Retirement Fund owned approximately 0.09% of SkyWest worth $1,882,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in SKYW. Invesco Ltd. grew its holdings in shares of SkyWest by 40.6% during the third quarter. Invesco Ltd. now owns 923,722 shares of the transportation company’s stock worth $38,741,000 after buying an additional 266,762 shares in the last quarter. American Century Companies Inc. grew its stake in SkyWest by 16.4% during the 3rd quarter. American Century Companies Inc. now owns 721,053 shares of the transportation company’s stock valued at $30,241,000 after acquiring an additional 101,459 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in SkyWest by 5,203.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 256,631 shares of the transportation company’s stock valued at $10,763,000 after acquiring an additional 251,792 shares during the last quarter. FMR LLC lifted its stake in SkyWest by 9.7% in the 3rd quarter. FMR LLC now owns 174,865 shares of the transportation company’s stock worth $7,334,000 after purchasing an additional 15,518 shares in the last quarter. Finally, Phocas Financial Corp. boosted its holdings in shares of SkyWest by 1.8% during the 4th quarter. Phocas Financial Corp. now owns 163,382 shares of the transportation company’s stock worth $8,529,000 after purchasing an additional 2,935 shares during the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

SkyWest Stock Performance

NASDAQ:SKYW opened at $77.06 on Thursday. The stock has a market capitalization of $3.10 billion, a P/E ratio of 27.82 and a beta of 1.89. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.72 and a current ratio of 0.81. SkyWest, Inc. has a fifty-two week low of $25.79 and a fifty-two week high of $79.21. The company has a 50 day moving average price of $69.35 and a 200 day moving average price of $57.10.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.21. SkyWest had a return on equity of 5.45% and a net margin of 3.83%. The firm had revenue of $804.00 million for the quarter, compared to the consensus estimate of $800.07 million. During the same quarter in the previous year, the business earned ($0.45) EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. Equities research analysts forecast that SkyWest, Inc. will post 6.81 EPS for the current year.

Insider Transactions at SkyWest

In related news, Director James L. Welch sold 2,000 shares of SkyWest stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $66.72, for a total value of $133,440.00. Following the completion of the transaction, the director now owns 56,067 shares in the company, valued at $3,740,790.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Evercore ISI boosted their price objective on SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Raymond James boosted their target price on shares of SkyWest from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. TheStreet upgraded shares of SkyWest from a “c” rating to a “b-” rating in a report on Friday, February 2nd. TD Cowen upgraded SkyWest from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $68.00 in a report on Monday, February 5th. Finally, StockNews.com upgraded SkyWest from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, SkyWest has an average rating of “Moderate Buy” and an average price target of $62.25.

SkyWest Company Profile

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.